Romania Inflation May 2021

Romania

Romania: Inflation increases to over one-year high in May

June 11, 2021

Consumer prices increased 0.53% from the previous month in May, picking up from the 0.45% rise logged in April. May's figure was the sharpest increase in prices since January, and was primarily driven by rising prices for food.

Inflation came in at 3.8% in May, up from April’s 3.2%. May's result was the highest inflation rate since December 2019. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 2.8% in May (April: 2.6%). Lastly core inflation rose to 3.1% in May, from the previous month's 2.8%.

Lauren Braniff, economist at Oxford Economics, said:

“We expect inflation to increase throughout H2, with a further hike in gas and electricity prices expected in July. But we see a slowdown in 2022 as price pressures ease.”

FocusEconomics Consensus Forecast panelists see inflation averaging 3.3% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, panelists see inflation averaging 2.9%.


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Romania Inflation May 2021 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Institute of Statistics.


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